In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
MULTIVAC Sepp Haggenmüller SE & Co. KG announced that it will exhibit a wide range of integrated processing and packaging solutions at IFFA in Frankfurt in 2022. The presentation includes the processing and packaging of fresh meat in MUTIVAC paperboard, poultry in MAP, portioned products in film pouches, and packaging meat in catering packs with cost-effective and sustainable materials.
U.S Food and Drug Administration declared an investment amount of USD 500 million in American Rescue Plan to develop meat and poultry processing capacity to make the agricultural market more fair, accessible, resilient, and competitive for U.S farmers and ranchers.
Meat packaging is done to deliver fresh, protected, and the highest standard of hygienic food. For bulk supply and end-use consumption, fresh meat requires the presence of oxygen to maintain color for consumer appeal. Fresh meat has a shorter shelf life, so choosing the correct packaging and packaging material keeps the food hygienic for a long time. Processed products require more sophisticated and extensive packaging as they will be stored at higher temperatures for longer periods. Fresh meat packaging is to resist physical and chemical changes, protect against microbes, and present to consumers in an attractive manner.
Base Year |
2022 |
Forecast Year |
2023-2035 |
CAGR |
~4% |
Base Year Market Size (2023) |
~ USD 3 Billion |
Forecast Year Market Size (2035) |
~ USD 4.5 Billion |
Regional Scope |
|
The global fresh meat packaging market is estimated to garner a revenue of ~USD 4.5 Billion by the end of 2035 by growing at a CAGR of ~4% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 3 Billion in the year 2023. Rising R&D of therapeutic vaccines, increasing disease diagnostic modalities, and increasing preference of people for fresh food products owing to increase proper packaging to fuel the market growth during the forecast period. Also, the rising consumption of fresh meat products such as chicken, pork, beef, lamb, turkey, and fish are expected to boost the fresh chicken packaging market growth in the coming years. The U.S household consumption of meat in 2020 rose more than 6% up from 2019.
Reduced transportation cost, the economy of scale, increased shelf life, better inventory, minimization of weight loss due to evaporation, and palatability due to controlled aging are some of the major factors surging the fresh meat packaging market. Rising demand for fresh meat among people drives fresh meat packaging material market growth.
Increasing Demand for Eco-Friendly Packaging Owing to Environmental Concerns – Time constraints and rising environmental concerns such as global warming are forcing manufacturers to adopt eco-friendly techniques for fresh meat packaging which is expected to drive the global market over the forecast period. As per the estimations, it was observed that more than 50% of participants were concerned about the packaging material or product and preferred sustainable packaging materials.
Rising Population Across the World who Eat Meat and Meat Products - Increase in the percentage of the global population consuming meat has increased the demand for fresh meat packaging products across the globe. As the population of the world increases to 7 billion to 10 billion by 2050 meat consumption also rises eventually leading to the growth of the market.
Increasing Health Issues from Meat with the Sudden Outbreak of COVID-19 – Improper meat packaging or infected meat such as Trichinella- infected meat will cause infection to the people who consumed it. About 10,000 cases are reported each year across the globe as per the data from the Centers for Disease Control and Prevention.
Growing Need to Extend the Shelf-Life of Fresh Meat Using Active Packaging Films – The use of polyamides and green tea extract in antioxidant packaging enhanced the shelf-life of minced beef from 5 to 20 days.
Increasing Demand for Packaging Materials Coupled with Advancements in Packaging Technology – Vacuum skin packaging technology machines are estimated to eliminate up to 90% i.e., accurately between 70-80% of the air from the packaging product and extend the shelf-life.
Increased Number of Health Issues with Consumption of Spoiled Meat
Improper packaging or the use of unhygienic packaging material deteriorates the meat products when stored for a longer time. Environmental issues such as recyclability and sustainability and rising health concerns among people are some of the factors that are anticipated to restrain the global fresh meat packaging market.
Complex Production Process is Involved to Keep the Packaging Hygiene
Expensive Packaging and Additional Costs for Storage, Transit, and Maintenance of Meat
The global fresh meat packaging market is segmented and analyzed for demand and supply by meat type into beef, pork, poultry, and others. Out of these, the poultry segment is anticipated to hold the largest market size by the end of 2035 owing to rising production of poultry, increasing disposable income, rapid urbanization in developing economies, and growing popularity of the protein diet and keto diet. Poultry production and consumption rose to 128 million metric tons in 2021 with an average of 4% increase every year according to the USDA Economic Research Service.
The North America fresh meat packaging market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. Rising adoption of modern advancements, increasing consumption of meat, poultry, and seafood, growing production of fresh meat, elevating the number of manufacturing hubs, and rising small and large scale firms and mergers are augmenting the market growth in the coming years. More than 50 million chickens are produced, 10 billion broiler chickens hatched in 2020, and in 2021 9.5 billion eggs were bred in the U.S alone.
Our in-depth analysis of the global fresh meat packaging market includes the following segments:
By Packaging |
|
By Layer |
|
By Packaging Format |
|
By Meat Type |
|
By Distribution Channel |
|
Film Convertors
Ans: Increasing consumption of meat, seafood, and poultry, growing preference fore fresh meat products are the major factors driving the growth of the fresh meat packaging market.
Ans: The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2023 – 2035.
Ans: Environmental issues, health concerns, expensive prices, and complex processes are the challenges affecting the market growth.
Ans: The market in North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Film Convertors, Bemis Company, Inc., Winpak Ltd., Sealed Air Corp., Amcor Ltd, Crown Holdings, Nuconic Packaging LLC, Tetra Pak International S.A., Silgan Holdings, Inc., Reynolds Group, Toyo Seikan Group Holdings.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by packaging, layer, packaging format, meat type, distribution channel, and by region.
Ans: The poultry segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Submit Your Request For Proposal (RFP)
Submit RFP Buy Now Download Research Report Sample